Richardson Financial Services Inc. Purchases Shares of 1,035 The Bank of New York Mellon Co. (NYSE:BK)

Richardson Financial Services Inc. acquired a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,035 shares of the bank’s stock, valued at approximately $80,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. State Street Corp boosted its position in shares of Bank of New York Mellon by 2.0% in the third quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock valued at $2,393,915,000 after acquiring an additional 659,096 shares during the period. FMR LLC increased its stake in Bank of New York Mellon by 78.6% during the third quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock valued at $1,389,680,000 after acquiring an additional 8,512,404 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Bank of New York Mellon by 1.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,634,088 shares of the bank’s stock valued at $476,726,000 after acquiring an additional 117,974 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Bank of New York Mellon by 2,707.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock worth $234,189,000 after acquiring an additional 3,142,869 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of Bank of New York Mellon by 8.3% during the third quarter. Franklin Resources Inc. now owns 2,252,729 shares of the bank’s stock valued at $172,348,000 after purchasing an additional 173,347 shares during the period. Institutional investors own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BK shares. StockNews.com upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating in a research note on Tuesday, January 28th. Truist Financial upped their target price on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. UBS Group raised their price target on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Bank of America upped their price objective on Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $88.00.

Bank of New York Mellon Stock Down 0.6 %

Shares of NYSE:BK opened at $86.01 on Monday. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $87.70. The firm has a market cap of $62.53 billion, a P/E ratio of 14.80, a P/E/G ratio of 0.98 and a beta of 1.08. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The company’s 50-day moving average price is $80.29 and its two-hundred day moving average price is $73.97.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same quarter last year, the business posted $1.28 earnings per share. Bank of New York Mellon’s revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, research analysts forecast that The Bank of New York Mellon Co. will post 6.86 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Monday, January 27th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

Bank of New York Mellon Profile

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.